- Ducommun Inc (NYSE:DCO) has priced its public offering of 2 million shares at $40 per share.
- The offer price represents a 17% discount to the company’s closing price on May 15, 2023.
- The company expects net proceeds from the offering of $74.4 million.
- Ducommun has granted the underwriters a 30-day option to purchase up to an additional 300,000 shares.
- The company intends to use the net proceeds to repay indebtedness under its revolving credit facility that was used to finance its acquisition of BLR Aerospace L.L.C.
- The closing of the offering is expected to occur on May 18, 2023.
- Price Action: DCO shares are trading lower by 14.3% at $41.50 in premarket on the last check Tuesday.
AppLovin Q4 Earnings, Revenue Beat Estimates; Expands Buy-Back Program By $1.25B
AppLovin reported quarterly earnings of 49 cents per share which beat the analyst consensus estimate of 36 cents by 36.11%. The company reported quarterly sales of $953.26 million, beating the analyst consensus estimate of $928.17 million by 2.7% and representing a 35.73% increase over sales of $702.31 million year-over-year.
